CORPORATE PRESENTATIONNovember 14, 2016

TSX.V: ELOFSE: P2Q

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Forward Looking Statements

Certain information contained herein regarding Eloro Resources Ltd., including management’s assessment of future plansand operations, may constitute forward-looking statements under applicable securities law and necessarily involve risks,including but not limited to risks associated with mining exploration, operating costs, production costs, volatility of shareprices, currency fluctuations, imprecision of resource and reserve estimates, environmental risks and ability to accesssufficient capital from internal and external sources.

As a consequence, actual results may differ materially from those anticipated in any forward looking statements. Plans,intentions or expectations disclosed in any forward-looking statements or information should not be read as guarantees offuture results or events, and will not necessarily be accurate indications of whether or when or by which such results orevents will be achieved.

Except as required by law, Eloro Resources Ltd., expressly disclaims any intention and undertakes no obligation to updateany forward looking statements or information as conditions change.

Any historical mineral resources mentioned are strictly historical in nature and are non-compliant to National Instrument43-101 mineral resources and mineral reserves standards, and should therefore not be relied upon. A qualified person hasnot done sufficient work to upgrade or classify the historical mineral resources as current National Instrument NI-43-101compliant.

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The Last Significant Unexplored Property in the Belt

• Potential for gold discovery along world’s best mining belt in northern Peru;

• Situated near world-class, low cost producers like Tahoe and Barrick, and has similar geology;

• Flagship asset, La Victoria, is 100% owned and has never been drilled after being held by local artisanal miner family for decades;

• Team has ability to develop high-merit projects and are proven discoverers with the required skill sets to take projects into production.

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Board of Directors

Thomas LarsenChairman, President and CEO

Thomas Larsen has over 30 years of experience in the investment industry. He was thefounder and CEO of Champion Minerals Ltd. and was recently the CEO of Champion IronLimited (formerly Champion Minerals Ltd). He specializes in corporate finance andmanagement of junior mining companies, and has raised in excess of C$150 million to date.

Francis Sauve

Francis Sauve is an entrepreneur based in south-western Ontario and has over 20 years ofin-depth experience with publicly traded resource corporations as a director and investor. Hejoined Eloro Resources as an independent director in 2002 and is also a director of CartierIron, having rejoined that company's board in June 2016 after serving from 1999 to 2012.

Alexander Horvath, P. Eng.

Alexander Horvath is the President of A.S. Horvath Engineering Inc., an Ottawa-basedexploration/mining geological services firm and brings over 28 years of experience in mineralexploration and mining. Mr. Horvath is Champion Iron Limited’s Chief Operating Officer,having joined Champion’s subsidiary company as a director in 2007 and as Executive VicePresident, Exploration in 2008.

Dusan Berka, P. Eng.

Dusan Berka has over 40 years of international experience in engineering, marketing & sales,and business administration. During the past 34 years, Mr. Berka has served as a Directorand Officer of various public companies traded on the TSX, TSX Venture Exchange and theNASDAQ system in the USA.

Richard Roy, P. Geo.

Richard Roy is the Exploration Manager for SEMAFO Inc., providing on-site supervision of allexploration activities, currently centered in Burkina Faso. Previously he was a consultant toNordQuest over a period of 10 years. He has extensive experience throughout North Americaand West Africa in the exploration for many commodities, including gold, silver, copper, lead,zinc, nickel, and diamonds.

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Management Team

Thomas LarsenChairman, President and CEO

Thomas Larsen has over 30 years of experience in the investment industry, and mostrecently, was the President and Chief Executive Officer of Champion Iron Limited. Hespecializes in corporate finance and management of junior mining companies, and hasraised in excess of C$150 million to date.

Miles Nagamatsu, CA, Chief Financial Officer

Miles Nagamatsu has over 30 years of experience in accounting, management, lending,restructurings and turnarounds. Since 1993, Mr. Nagamatsu has acted as a Chief FinancialOfficer of public and private companies primarily in the mineral exploration and investmentmanagement sectors. He holds a Bachelor of Commerce degree from McMaster Universityand is a Chartered Accountant.

James Steel, MBA, P. Geo., Senior Vice President, Mining

Jim Steel has 30 years of experience in mining exploration, production, and mining financeand investment. Previously he was VP and Portfolio Manager for TD Asset Managementand co-managed their Green Line Precious Metals and Resource Funds. He has also beena mining analyst for various firms including Newcrest Capital Ltd in Toronto, and OrdMinnett Ltd and S.G. Warburg and Co. in London, UK. Jim is the Apoderado of CompaniaMinera Eloro Peru SAC, Eloro’s Peruvian subsidiary and holder of the Concessions.

Jorge EstepaV.P., Secretary-Treasurer

Jorge Estepa has over 23 years of experience with publicly listed companies in the areas ofcorporate management, development and investor relations and has served as a seniorofficer and/or director of several publicly traded resource companies. Mr. Estepa joinedEloro Resources as Vice President and Corporate Secretary in 1997.

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Technical Advisors

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Dr. William N. Pearson, P. Geo.Chief Technical Advisor

Dr. William N. Pearson is a well-recognized leader in his field of geoscience. He has over 40 years ofdirect experience in global mineral exploration and production. Has played an integral role in creatingvalue in mining projects that led to successful acquisitions of Desert Sun Mining Corp. by YamanaGold in 2006 and Central Sun Mining by B2 Gold in 2009. Dr. Pearson was the creator and foundingPresident of the Association of Professional Geoscientists of Ontario.

Alexander Horvath, P. Eng.

Alexander Horvath is the President of A.S. Horvath Engineering Inc., an Ottawa-basedexploration/mining geological services firm and brings over 28 years of experience in mineralexploration and mining. Mr. Horvath is Champion Iron Limited’s Chief Operating Officer, having joinedChampion’s subsidiary company as a director in 2007 and as Executive Vice President, Exploration in2008.

Luc Pigeon, B.Sc., M.Sc., P.Geo.General Manager, Cia Minera Eloro Peru SAC

Luc Pigeon is founder of Gateway Solutions S.A.C , and has been a resident of Peru since 2006. Mr.Pigeon is a Professional Geologist (P. Geo) registered in the Province of Quebec and a QualifiedPerson as defined by National Instrument (“NI”) 43-101, and is the author of the recently completedLa Victoria NI 43-101 Technical Report. He has just been appointed General Manager of Eloro’sPeruvian subsidiary.

Dr. Chris Hale, P.Geo.

Dr. Chris Hale serves as consultant to Eloro from Intelligent Exploration of Guelph, Ontario. He is anexploration geophysicist with more than 35 years experience from around the world, includingmanaging various exploration projects and co-forming Intelligent Exploration, an independentconsulting partnership specializing in the application of geophysical exploration techniques toindividual deposits and target types. He received his B. Sc. in Earth and Planetary Sciences fromErindale College, University of Toronto in 1974, an M. A. from the University of California, SantaBarbara and a Ph. D. from the University of Toronto.

Dr. Osvaldo Arce Burgoa

Dr. Osvaldo Arce Burgoa is a professional geological and mineral processing engineer with 26 yearsexperience in Bolivia. He has a Doctor of Engineering from the Tohoku University at Sendai, Japanand a Bachelor of Science degree in Geological Engineering from the San Andrés University, Bolivia.He is a former National Director of the Bolivian Geological Survey, Main Technical Advisor of theNational Mining Corporation (COMIBOL), Exploration Manager and Chief Geologist in various miningand exploration companies.

Consultants

Capital Structure

Exchange/Ticker TSX Venture Exchange/ELOFrankfurt Stock Exchange/P2Q (WKN A1JKAT)

Shares Issued and Outstanding 28.7 million (October 17, 2016)

Warrants 7.5 million

Options 1.5 million

Fully Diluted 37.7 million

Share Price $0.46 (November 8, 2016)

Market Capitalization $13.2 million

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Acquisition Terms for 100% Interest in La Victoria

Acquisition Closed in Escrow – October 17th, 2016Acquisition Terms:

Issuance of 6 million common shares

Issuance of 3 million warrants • $0.40 exercise price, three year term, acceleration clause• 18-month hold period; Eloro has pre-emptive rights on future

share and warrant dispositions and voting rights– Staged cash payments totaling $350,000

• $250,000 paid on First Closing

• $100,000 nine months after First Closing

– Granting of 2% NSR (buy-back of 1% for $3 million)

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La Victoria: In Elephant Country

• Only junior with the last significantunexplored property in the Belt.

• Geology is similar to producing mines in the area.

• Excellent potential for epithermal precious metal and porphyry copper mineralization.

• Surface exploration is in progress while we work on permitting.

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Rosario de Belén

Gold Producers: North Central Mineral Belt

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Mine CompanyLOM Gold

Production (MM oz)

Cash Cost (US$/oz)

Gold Reserves (MM oz)

Deposit Type ("HS" = High Sulphidation)

Distance from La Victoria

Yanacocha Newmont Mining /Buenaventura 34.8 772 5.1 Epithermal HS

Disseminated 160 km NNW

Pierina Barrick Gold Corporation 8.71 90 (2001) N/A Epithermal HS

Disseminated 135 km SSE

Lagunas Norte Barrick Gold Corporation 7.48 415 5.82 Epithermal HS

Disseminated 50 km NW

Retamas MARSA 3.53 N/A N/A Mesothermal Intrusive Host 60 km E

Parcoy Consorcio Minero Horizonte S.A. 2.67 N/A N/A Mesothermal Intrusive

Host 60 km E

Santa Rosa COMARSA 2.64 N/A N/A Epithermal HS Breccias 20 km NNW

Poderosa Cia. Minera Poderosa S.A. 2.03 N/A N/A Mesothermal Intrusive

Host 75 km NNE

La Arena Tahoe Resources Inc 1.21 552 6.2 Epithermal HS

Disseminated 50 km NW

La Virgen Cia. Minera San Simon S.A. 0.51 N/A N/A Epithermal HS

Stockwork 35 km NNW

Shahuindo Tahoe Resources Inc. 0.45 643* 20 Epithermal HS

Disseminated 80 km NNW

Cullebrias Real Aventura 0.11 N/A N/A Mesothermal Intrusive Host 65 km NE

* Calculated from operating cost profiles; cash costs not stated.

Geological Similarities to Area Mines

Lagunas Norte La Victoria

Host rock Chimu Fm sediments Chimu Fm Sediments (San Markito)

Diatreme breccia Breccia (San Markito, Possibly Diatreme)

High iron oxides with ore; disseminated and fracture filling High Grades With Iron Oxides In Fracture Filling (Rufina)

Chicama Fm base of mine sequence Chicama Fm Lowest Stratigraphic Level La Victoria Property (underlies Rufina)

La Arena La VictoriaHigh Sulphidation Epithermal Gold Epithermal Gold (Rufina)

Copper-gold Porphyry At Depth Copper-gold Rock With Porphyritic Textures in outcrop at Ccori Orcco Sector

Host Rock Chimu Fm Host Rock Chimu Fm (San Markito)

Santa Rosa La VictoriaHigh Sulphidation Epithermal Gold Epithermal Gold

Host Rock Chimu Fm Host Rock Chimu Fm (San Markito)

Gold In Arsenopyrite And Pyrite High Grade Gold (63.8 g/t) In Arsenopyrite With Pyrite (Rufina East); 46.4 g/t in oxides (Rufina West)

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History: Formerly Family Owned Property Presents Uncommon Opportunity

La Victoria was previously held for over 30 years by a local family.

With changing tax laws, the property wasperceived too expensive to maintain, soowners agreed to sell to “friends of the family”− that being Minera Tartisan Peru SAC, thatpaid $US 202K over a 3-year period to earna royalty-free 100% interest.

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La Victoria 100% Owned Concessions

• Neighbours include IAMGOLD on the east and BHP Billiton, which had a big land position to the south.

• DIA (environmental permit) approved for San Markito and Rufina 2.

• Osvaldo and Danilo are mapping San Markito and San Felipe 2.

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La Victoria Value PromiseThe La Victoria Gold/Silver Project exhibits the same rock types, alteration style, and mineralization as several of the world-class gold mines in the Northern Peru Mineralized Belt, and with early indications of solid gold and silver grades.

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Geophysical Results

Isometric model of the geophysical character of the Rufina Mineralized Zones

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Exploration Potential

Magnetics Map With More “Rufina” Targets

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The areas of the magnetic anomalies tend to be recessively weathered suggesting hydrothermal alteration of the intrusive rocks.

Exploration Sampling

Relating Geophysical Results to Surface Sampling Results

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Never Drilled, Until Now La Victoria has never been drilled, yet three major mineralized targets (with very prospective results from Eloro surface sampling and artisanal mining) have been known since the ‘70s.

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Drilling Program

The 3000m Phase I drill program should commence in Q1/ 2017 on the San Markito-Victoria target followed by the Rufina West target.

Four current target areas already identified include:• Rufina West

(Au in oxides to 46.4 g/t)

• Rufina East (Au in sulphides to 63.8 g/t)

• San Markito-Victoria (Ag in sulfosalts? to 1,814 g/t)

• Ccori Orcco (Au in hydrothermal silica to 8.9 g/t exploration).

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Catalysts of the Next 24-36 Months

Phase I drilling preparation, permits, and logistics

2017

Q4/2016

2016

Commencement of the maiden drilling programs at San Markitoand Rufina West

NI 43-101 Resource Definition and initiate PEA

Further drilling leading to (bulk tonnage heap leach) Prefeasibility Study

Continual Drilling; Continuous Discovery

2018

Q1/2017 to Q3/ 2017

Q2/2017 to Q4/ 2017 2018 onward

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Remember These?

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ArequipaResources

La Arena/ShahuindoGold Deposits50 km North of La Victoria

Pierina Deposit136km South of La Victoria

Eloro & La Victoria: A Golden Opportunity

A Piece of the World’s Best Mining Belt 100% owned flagship asset is in a stable, mining-friendly jurisdiction, within sight of world-class low-cost producing gold mines looking to maintain their pipelines for future growth.

The only Junior with the Last Significant Unexplored Property in the BeltEloro is the only publicly-traded junior Canadian company among majors (Barrick, Tahoe) with a large land position in a jurisdiction of some of the lowest cost gold mines globally.

Expert Team Experienced management and technical team working diligently to de-risk and advance the La Victoria Gold/Silver Project to production.

Tight Capital Structure Small float with undervaluedmarket capitalization.

Exceptional LeverageLa Victoria exploration is highly leveraged to rising gold and silver prices.

Strong Financial BackingAbility to raise capital needed to move projects forward, plus strong shareholder support and financial backing.

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Greenstone gold and base-metal exploration properties.Lemoyne North is 100 km northeast of Goldcorp’s Eleonore mine

and Delta/Eastmain is 50 km south.

Property name Target types

Lemoyne North57 claims, 29 km2

Target: Doyon/Bousquettype deposits of the Abitibi Greenstone Belt.

Delta/Eastmain Project 112 claims, 56 km2

Target: Copper-Gold Reservoir Deposit type of Eastmain Resources Ltd.

Quebec Properties Offer Additional Exploration Potential

Eleonore Deposit

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Contact InformationCanada20 Adelaide Street East, Suite 200Toronto, Ontario, Canada M5C 2T6Toll Free: +1.800.360.8006Tel.: +1.416.868.9168

Peru Jiron Botoneros 278Santiago de Surco, Lima, PeruTel: +51 986 651 325 (Luc Pigeon, General Manager)Tel: +51 963 268 068 (Jim Steel, Apoderado)

Email: jsteel@elororesources.com

www.elororesources.com TSX.V: ELOFSE: P2Q

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